Published by the Resolution Foundation, the report argues that the chancellor George Osborne’s plans to push ahead with cuts to tax credits, even on a revised timetable, will be expensive, still leave millions worse off and produce perverse work incentives.
Last month, during Treasury questions Mr Osborne said he was determined to press ahead with the changes to tax credits, albeit committed to ‘lessening’ the impact on families in light of opposition to the cuts from House of Lords. Details of the changes will be revealed in the Autumn Statement on 25 November
Under the original plans, the George Osborne planned to reduce the income threshold for those claiming Child Tax Credit from £16,105 to £12,125 a year and the threshold for Working Tax Credit from £6,420 to £3,850 as of April 2016.
Register now to continue reading
Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:
What's included
-
Free access to 4 subscriber-only articles per month
-
Unlimited access to news and opinion
-
Email newsletter providing activity ideas, best practice and breaking news
Already have an account? Sign in here
